Bank of America to keep direct private equity arm

As Bank of America weighs options for its main proprietary trading desk, the fate of its primary private equity direct investment arm is much clearer: it is staying put within the parent company - at least for now.

Bank of America doesn't have immediate plans to spin out, sell or unwind its direct private equity arm, known as BAML Capital Partners, said company executives. BAML Capital will continue to rely on the parent bank's balance sheet for capital, the executives added.